How to overcome rupiah's weakness

How to overcome rupiah's weakness

From Media Indonesia

What are the causes of the rupiah's weak position? The answers are so varied that it is very difficult for the monetary authorities to arrive at a diagnosis which would permit them to make a decision.

One of the causes of the weakness is the attitude of capitalists whose nationalism is fading. They only think of personal gains without considering the impact on the country's economy. They dominate the greater part of the country's economy and their behavior is imitated by some government officials.

The purchase of dollars takes place in cities only. The majority of the population living a hard life in villages and at the foot of mountains are not in a position to acquire dollars.

Although there has been no survey so far, those who have contributed to the weakening of the rupiah are the company tycoons with conglomerate businesses, companies that speculate in currencies, businessmen, legislators, bureaucrats, bank officials, state-owned company employees, speculators and even housewives.

In order to help the rupiah, we should create a movement for a national consciousness. Those who have bought dollars should sell them. Those who have dollar savings abroad should withdraw them and convert the money to make a deposit in rupiah.

If we realize that nationalism can prevail over individual interests, we should dare to make sacrifices. If the rupiah regained its strength, everybody would benefit from it.

SLAMET SURABAN

Jakarta